22-Sep-2010 1:03 PM

South African Airways reports mixed results in FY2010

South African Airways reports (13-Sep-2010) the following financial updates for the 12 months ended 31-Mar-2010:

  • Revenue*: USD3,124 million. -15% year-on-year;
  • Operating costs: USD2,941 million, -13.9%;
  • Profit before tax: USD83.5 million, +40.6%;
    • Airchefs: USD5.0 million, compared with a loss of USD1.8 million in p-c-p;
    • Mango: USD2.6 million, +9%;
    • SAA Technical: USD1.3 million, compared with a loss of USD24.0 million in p-c-p;
  • Net profit: USD81.4 million, +45%;
  • Passenger numbers: 6.7 million, -2.4%;
    • Domestic: n/a, -6%;
    • International: n/a, -5%;
    • Regional: n/a, +9%;
  • Cargo volume: 119,000 tonnes, -14%;
  • On-time performance: 85%;
  • Operating cash flow: USD238.1 million, compared with a negative cash flow of USD252.1 million in p-c-p. [more]

* Based on the conversion rate at USD1 = ZAR7.13940

South African Airways: "We look to the future with cautious optimism. We will continue to work tirelessly to build an airline that is safe, environmentally and socially responsible, and sustainably profitable," Cheryl Carolus, Chairperson. Source: South African Airways, 13-Sep-2010.

South African Airways: "The reporting period was exceptionally challenging for the aviation industry worldwide, with a large decline in passenger demand as a result of the continuing effects of the global economic crisis. We are most pleased that in comparison to many other airlines and despite the decline in passenger numbers, SAA reported positive financial results," Siza Mzimela, Chief Executive Officer. Source: South African Airways, 13-Sep-2010.

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